Tomorrow turns to US, Europe markets
Tomorrow International Holdings, a manufacturer and distributor of electronics products, components and parts, is planning to focus more heavily on United States and European markets because of the Asian financial crisis.
Managing director Tse Kam-fow said after Tomorrow International's annual meeting the company would expand in the US and Europe and take a more conservative approach towards Japan. He estimated that sales to the US and Europe would grow an annualised 10 per cent in 1998.
Chairman Paul Yau Tak-wah said sales to Japan accounted for 10-20 per cent of total revenue.
He said that while the yen's depreciation might lead to a decline in sales to Japan, it would also help reduce raw-material costs, as a large proportion of the company's components were sourced from the country.
